With the price of Bitcoin successfully reclaiming the $67K mark, mid-cap altcoins have displayed a strong bullish reversal in their respective portfolios. Moreover, memecoins have displayed a similar price action by adding significant value to their respective portfolios.
Scroll down as, in this article, we have covered the top 2 memecoins that have the potential to dominate the memecoin mania during the upcoming crypto bull run.
Amid increased bullish sentiment, the WIF price has recorded a jump of 6.79% within the past week and 29.49% over the past 30 days. Further, with a YTD return of 1,598% and a market cap of $2.591 Billion, this memecoin has secured the 33rd position in the global crypto list.
The SMA indicator has displayed a bearish crossover in the D time frame. Further, the technical indicator, MACD, shows a constant decline with its averages recording a neutral trend. This indicates a weak price action for the memecoin in the market.
If the market regains momentum, the WIF price will break out of its resistance level and head toward its upper high of $4. However, in case of a bearish action, the dogwifhat price could plunge toward its low of $2.
The second most successful memecoin of the Solana chain, the Bonk price has added 22.37% to its valuation within the past 30 days and has surged approximately 110% this year. Moreover, this memecoin has successfully tested its important support level of $0.0000270, indicating a strong bullish sentiment.
The Relative Strength Index (RSI) has retested its mid-point and is on the verge of recording a bullish crossover in the 1D time frame. This suggests a high possibility of a bullish reversal during the upcoming weeks.
If the market holds the BONK price above its important support level of $0.0000270, the bulls will prepare to test its upper resistance level of $0.00003390. Conversely, if the bears regain momentum, the memecoin will plunge toward its low of $0.00002125.
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